Palo Alto Networks, Inc. $PANW Shares Purchased by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,142 shares of the network technology company’s stock after buying an additional 8,223 shares during the quarter. Palo Alto Networks makes up 1.5% of Canvas Wealth Advisors LLC’s holdings, making the stock its 20th biggest position. Canvas Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $8,110,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in Palo Alto Networks during the second quarter worth approximately $25,000. Whipplewood Advisors LLC raised its stake in shares of Palo Alto Networks by 6,400.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after buying an additional 128 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of Palo Alto Networks during the 2nd quarter valued at approximately $28,000. Howard Hughes Medical Institute purchased a new position in shares of Palo Alto Networks during the 2nd quarter valued at approximately $29,000. Finally, MTM Investment Management LLC acquired a new stake in Palo Alto Networks in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PANW. Wedbush restated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 20th. Rosenblatt Securities upped their price target on shares of Palo Alto Networks from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Stephens lifted their price objective on Palo Alto Networks from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, November 20th. Evercore boosted their price objective on Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $245.00 target price (up previously from $228.00) on shares of Palo Alto Networks in a research report on Thursday, December 18th. Thirty-one research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.09.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $191.91, for a total transaction of $23,177,738.34. Following the transaction, the executive vice president directly owned 327,645 shares of the company’s stock, valued at $62,878,351.95. The trade was a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. This trade represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 260,542 shares of company stock worth $49,910,995 in the last quarter. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

PANW opened at $159.32 on Friday. The firm has a market capitalization of $111.05 billion, a price-to-earnings ratio of 100.84, a price-to-earnings-growth ratio of 3.80 and a beta of 0.75. The company’s 50 day simple moving average is $185.05 and its two-hundred day simple moving average is $193.48. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 earnings per share. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.